Patents and Innovation Economics

There are number of indications that the U.S. is losing its technological edge. In the second quarter of 2008, there were no public offerings of Silicon Valley venture capital-backed companies, a phenomenon not seen since 1978. U.S. venture capital firms are investing more of their funds overseas. Many U.S. trained, foreign national, scientists and engineers are leaving the U.S. and returning to their home countries. In 2001 (the most recent year for which data are available), US industry spent more on tort litigation than on research.[1]Continue reading →